The New York State Gaming Commission recently reported that the current digital sportsbook contributed to a betting handle of about $416 million

It should be explained that Empire State launched the mobile sports betting market in January 2022, and quickly moved to the best-performing legal sector in the United States. Eight operators are currently operating in the online space as Bali Bet goes offline to migrate its sports betting platform to Kambi, and the company says it will be back in the coming weeks.

As was already expected, the return of NFL and college football has given new life to the New York market. For the week ending September 10, 2023, eight sportsbook operators disclosed a total of $416 million in bets. The weekly amount is the largest since January 15, 2023 and represents a 26% increase in bets from the same week in 2022.

Bookmakers’ total gaming revenue for the aforementioned week was $56.6 million, the second-highest in the state since the digital market began in early 2022. It also recorded the largest weekly sales surge ever, about 582% compared to the previous week. This week, too, is close to achieving record weekly earnings in the week.

For the week of Sept. 10, 2023, SportsBook disclosed gross revenue of $32.3 million, or 57% of its total weekly revenue, while the New York-based company generated its biggest handle for the week, with gross revenue of $195.5 million, up nearly 60% from the previous week.

DraftKings came in second with $16.4 million in revenue with a bet of $138.8 million. Caesars Sports Books came in third with $40.9 million in bets per share and $4.4 million in gross profit. BetMGM came in second this week with a total betting volume of $22.1 million and pre-tax revenue of $2.3 million.

Disadvantages of Sports Betting Popularity
But with the growing popularity of digital sports betting, more and more New Yorkers have signed up for voluntary self-exclusion programs. This was noted in a survey by the New York State Office of Addiction Services and Support, which showed a 33% increase in exclusion requests in the first 12 months. Calls to the state’s HOPE line increased by 23%.

The risk of problem gambling in Empire State is growing, but there is no progress in proposing legislation to ban sports betting advertising. Not long ago, U.S. Congressman Paul Tonko proposed a bill to induce a federal ban on advertising, but recently Congressman said the bill, titled H.R. 967, had little traction in Congress.

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